IBM And Searchspace form Global Strategic Alliance to Automate the Financial Enterprise

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ARMONK, NY
-
12 Dec 2001:
IBM today announced the selection of Searchspace as a strategic partner for a new alliance that will automate key business functions, such as anti-money laundering, fraud detection and event-driven marketing. Based on Searchspace's advanced decision automation technology and IBM's e-business infrastructure the two companies are delivering comprehensive packaged solutions to transform business decision making.

Kicking off this strategic alliance, Searchspace and IBM today introduced the industry's first enterprise packaged solution for anti-money laundering (AML), enabling organizations to quickly respond to changing requirements for tracking illegitimate transactions. Searchspace's next-generation AML Sentinel Version 3.0 is a key component to the new packaged offering. From IBM, WebSphere Application Server, DB2 Universal Database, eServer pSeries and support from IBM Global Services rounds out the fully packaged offering.

"The Searchspace global alliance brings a new and exciting technology to a much wider business audience. This allows financial institutions to understand, interpret and respond dynamically to activity within their organizations in a consistent and effective way to achieve a new quality of automated decision making," said Dr. Mark Greene, general manager of global banking for IBM. "IBM and Searchspace have already helped a number of organizations automate their enterprise to combat money laundering and fraud within streamlined risk management."

As part of the agreement, Searchspace's Intelligent Enterprise Framework(TM) (IEF(TM)) is now available on IBM's eServer platforms including the pSeries and associated storage devices. Additionally, IEF has been optimized to run with IBM business software, such as DB2 and Websphere, providing maximum performance and rapid speed-to-market deployment. IBM, consulting and implementation services are also available. This provides a true end-to-end system that can monitor and interpret transactions enterprise-wide.

"It's all about knowing your customer - an increasingly difficult task in the electronic marketplace. Searchspace and IBM are addressing this with a series of enterprise-packaged solutions, first focused on anti-money laundering," said Jason Kingdon, CEO, Searchspace. "Working closely with IBM, we now have a speed-to-implementation advantage in delivering automated decision making solutions."

Searchspace's IEF connects existing enterprise management systems to provide a complete end-to-end automated decisioning system on IBM's enterprise platforms. Once the IEF is implemented, Searchspace's packaged business applications can be deployed throughout the entire organization to address core business issues, such as anti-money laundering, compliance reporting, fraud detection, audit, operational risk and event-driven marketing. Searchspace leverages advanced technologies to automate core business functions, freeing the organization to focus on its core competencies.

The Searchspace strategic alliance is another example of IBM's commitment to go-to-market with leading independent software vendors through the PartnerWorld for Developers program. These alliances target industries such as financial services, retail, manufacturing, and solution segments including enterprise resource planning, supply chain management, customer relationship management and business intelligence. The goal is to provide developers with access to new customers and revenue opportunities through IBM's marketing, sales and solutions resources. Developers commit to lead with IBM's middleware, server platforms, and services.